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Tag: Gujarat

  • Jabil to Invest $125 Million to Establish Silicon Photonics Unit in Gujarat

    According to a senior Jabil official on 6 March, the US electronics manufacturer Jabil wants to invest about $125 million to establish a silicon photonics production facility in Gujarat. Jabil has decades of experience in silicon photonics technologies, according to Matt Crowley, Executive Vice President, Global Business Unit, who spoke at the IESA Vision Summit. According to Crowley, the company is thrilled to declare that it intends to establish a new factory in Gujarat. Today, the business is thrilled to announce a Memorandum of Understanding specifically for the fabrication of silicon photonics in Gujarat.

    This year, the factory will be in operation. In order to establish the factory, the firm and the Gujarati government signed a memorandum of agreement at the event. According to Crowley, Jabil began operations in India in 2003 and currently has over 75,000 employees there. He went on to say that Jabil thinks photonics has a lot of potential in cutting-edge fields, including medicine, driverless cars, 5G networks, and artificial intelligence applications. He described India as the “right spot for investments to scale,” citing the nation’s robust labour market, expanding economy, and government’s “willingness” to make investments.

    Deals Worth INR15000 Cr Signed by Gujarat Government

    On the first day of the massive semiconductor conference in Gandhinagar, the Gujarat government signed proposals with both domestic and foreign companies totalling INR 15,000 Cr. Of this, NextGen alone pledged INR 10,000 Cr to establish an optoelectronics facility and compound semiconductor fabrication in the state. On the first day of the conference, Mona Khandhar, principal secretary in the state’s department of science and technology, stated that several memorandums of understanding (MoUs) indicating a possible investment of INR 15,000 Cr in Gujarat’s semiconductor sector were signed with stakeholders, including the state government. Furthermore, Taiwan Surface Mounting Technology reportedly revealed plans to invest more than INR 500 Cr to establish a new electronics manufacturing services facility in the state. In the meantime, IIT Gandhinagar and Tata Electronics inked a deal to improve semiconductor-related skills. In addition, a three-way Memorandum of Understanding was signed for display semiconductors between Himax Technologies, Taiwanese company PSMC, and Tata Electronics.

    Gujarat Preferred Destination for Semi-Conductor Manufacturers

    According to Chief Minister Bhupendra Patel, Gujarat has become the most popular place in India to establish semiconductor plants, and the state is ready to join the global semiconductor supply chain. Patel emphasised Gujarat’s rise as a technology powerhouse while speaking at the three-day Gujarat SemiConnect 2025 in Gandhinagar. He added that Gujarat had established a Global Capability Centre Policy to promote AI, machine learning, analytics, and related industries, and that under the Prime Minister’s direction, India is solidifying its position globally in cutting-edge fields like semiconductors, AI, machine learning, and drone technology. By highlighting Gujarat’s potential as a desirable travel destination, the three-day event aims to attract investments, stimulate capital inflow into the state’s semiconductor industry, integrate regional businesses into global value chains, and strengthen the state’s ability to innovate in the semiconductor sector.

  • Four People from Gujarat are Arrested by Bengaluru Police for Cheating CRED of INR 12.5 Crore

    Four individuals from Gujarat were recently apprehended by the Bengaluru city police for the theft of INR 12.5 crore from CRED, a credit card payments company. Among those detained was Vaibhav Pitadiya (33), a relationship manager at Gujarat’s Axis Bank and the suspected mastermind.

    During the inquiry, the police found two cell phones, counterfeit CIB forms, and INR 1.28 crore in cash. “The remaining sum that was defrauded is being recovered. On Corporate Internet Banking (CIB) forms, they falsified seals and signatures. The accused moved INR 12.50 crore to 17 mule accounts in Gujarat and Rajasthan using these falsified documents, the source claimed, gaining unauthorised access to the company’s online banking credentials.

    Modus Operandi

    Pitadiya found that CRED‘s nodal account handled more than INR 2 crore in transactions per day. He found ways to take advantage of the two linked company accounts that were dormant. A media report claims that Pitadiya came up with a plan and persuaded Neha Ben, an Instagram friend, to pose as the managing director (MD) of the business. In order to present Neha as the MD, he falsified board resolutions and letterhead documents.

    Neha asked for a new user ID connected to CRED’s account with updated email and phone information by submitting a fictitious CIB form and falsified papers to the Axis Bank branch in Ankleshwar, Bharuch, Gujarat. The group started the fraudulent transactions with these credentials. According to the authorities, two accomplices, Shubham and Shailesh, opened mule accounts and produced fake paperwork in order to transfer the stolen money.

    How the Issue got Highlighted?

    On November 13, when CRED was performing a bank account reconciliation, the fraud was discovered. It was found that 17 unauthorised transactions totalling INR 12.5 crore had been made to questionable accounts between October 29 and November 11. On November 15, CRED complained to the East CEN Crime Police Station in Bengaluru and brought the matter to the attention of Axis Bank.

    Neha had filed the documents in the Ankleshwar branch, which is where the police were able to trace the fraud. After Neha was taken into custody on December 21, the police found Pitadiya and the others through her interrogation. According to investigations, the suspects tried to activate a second CRED-related account by submitting a new CIB form to a separate Axis Bank office. An official declared, “The fraud was stopped after this attempt was intercepted.”

    They made fake CIB documents and board resolutions and gained access to private information. The fraudulent transactions were made possible by the submission of these documents to the Ankleshwar branch of Axis Bank. The officer further stated that the accused had been remanded to police custody for additional investigation after confessing to the crime during questioning.

    SEBI Grants Approval for IPOs of Schloss Bangalore, Ather Energy, and Others
    SEBI has approved IPOs for six companies, including Schloss Bangalore and Ather Energy, paving the way for public listings. Learn more about the developments.
    StartupTalkyNitin Konde

  • PM Modi to Launch ‘Jal Sanchay Jan Bhagidari’ Program in Gujarat

    On September 6, 2024, in Surat, Gujarat, Prime Minister Narendra Modi will inaugurate the “Jal Sanchay Jan Bhagidari” program, a joint venture with community partners. Jal Shakti Abhiyan: Catch the Rain is hoping to gain further traction with this project.

    The Government of Gujarat has endeavored to mobilize citizens, local bodies, industries, and other stakeholders to ensure a water-secured future, inspired by Prime Minister Narendra Modi’s vision of a whole society, whole government approach to water conservation with a strong emphasis on community partnership and ownership. This campaign aims to show how community ownership and engagement may help achieve Modi’s goal of water security. Improving rainwater gathering and attaining long-term water sustainability will be greatly assisted by the recharge structures created under the initiative.

    Jal Sanchay Jan Bhagidari Campaign’s Aims

    The Prime Minister’s steadfast commitment to water conservation is shown in the Jal Sanchay Jan Bhagidari initiative. This effort is inspired by his strong advocacy for sustainable water management, which he frequently emphasizes in his talks. Everyone from citizens to businesses and government agencies must work together to ensure water security, according to the prime minister, who has stressed this point on multiple occasions.

    A paradigm for water conservation in Gujarat that is firmly based on community engagement and CSR-driven projects, the Jal Sanchay Jan Bhagidari program seeks to broaden this approach. The goal of the program is to bolster the Jal Shakti Abhiyan: Catch the Rain campaign, which is the Prime Minister’s plan to make use of every drop of rain.

    With this program, India hopes to pave the way for future water conservation initiatives. Sustainable water management is crucial to the nation’s development, and by highlighting Gujarat’s innovative model, it hopes to motivate collective action in this direction.

    Effects and Prospects for the Future

    By providing a blueprint for similar CSR-driven programs, the “Jal Sanchay Jan Bhagidari” project hopes to energize people to do more to save water. Through the program, Gujarat’s achievements will be highlighted, potentially inspiring other states and union territories to follow suit. The participation of State Nodal Officers from various parts of the nation at this launch ceremony highlights the initiative’s significance on a national level.

    Launching “Jal Sanchay Jan Bhagidari” is a major milestone on India’s path to water security. Through the utilization of community involvement and CSR funding, this endeavor has the potential to revolutionize water conservation efforts nationwide, guaranteeing a sustainable water future for upcoming generations.

    This initiative is poised to set a new benchmark for water conservation initiatives across the country by utilizing the power of community engagement and CSR funding. This will ensure that future generations will have access to water that is sustainable.

    Kaynes Purchases Land in Gujarat to Construct a Semiconductor Unit
    Kaynes Technology, an Electronics manufacturing services provider, has bought some property in Sanand, Gujarat, to establish an OSAT (outsourced semiconductor assembly and test) unit.
    StartupTalkyNitin Konde

  • Kaynes Purchases Land in Gujarat to Construct a Semiconductor Unit

    Kaynes Technology, an Electronics manufacturing services provider, has bought some property in Sanand, Gujarat, to establish an OSAT (outsourced semiconductor assembly and test) unit.

    In order to fund its chip project, the corporation intends to spend around INR 5,000 crore. This is a major milestone since Kaynes, via its subsidiary Kaynes Semicon, is expanding into semiconductor assembly. Earlier, Kaynes had mentioned ambitions to construct a chip plant in Telangana, with a capital expenditure of over INR 3,000 crore.

    Why in Gujarat?

    Interestingly, Kaynes had previously applied for the chip project in Gujarat through the government’s INR 76,000-crore semiconductor incentive plan and it is now just waiting for approval. According to officials, Kaynes would be wise to establish their advanced facility in Gujarat due to the state’s robust ecosystem and the presence of other large-scale chip projects in Sanand and Dholera.

    Similarly, this has been done in response to demand from prospective clients, pointed out officials of Kaynes.

    On the other hand Kaynes will keep its Telangana plant running with a few of chip assembly lines, while the advanced chip assembly and test project would be run out of Gujarat. Among other things, Kaynes will use the Telangana facility for EMS services, which include making printed circuit boards (PCBs).

    On the Revenue Front

    According to Ramesh Kanan, founder and managing director of Kaynes Technology, the firm has recently purchased property in Gujarat and plans to begin construction there. Concurrently, the company is forming a team to handle onboarding for its OSAT business and has initiated the collaboration. The OSAT business is anticipated to have a positive response in FY26.

    A few more clients have come on board in the advanced packaging space, and the company has been actively recruiting new team members, added Kanan. Kaynes SemiCon CEO Raghu Panicker informed media that the company aims to have thirteen chip assembly and test lines in the next one and a half to two years, producing one billion chips per year.

    With the 46-acre Telangana factory set to go live by the end of August, Kaynes plans to target the industrial and electric vehicle (EV) markets through a few OSAT lines.

    Future Expectations

    In the beginning, the business will focus on electric vehicle (EV) domain power module packaging and microcontroller units.

    In the future, the business intends to produce legacy semiconductor packages such as tiny outline transistors (SOTs) and quad flat no-leads (QFNs), which are well-suited for use in consumer electronics, vehicle designs, and power applications. Ball Grid Array (BGA) semiconductor packages, which use solder ball pins to install integrated circuits like microprocessors, are another place it will end up.

    Revenue for the April–June quarter at Kaynes increased 70% year over year to INR 504 crore, driven by robust growth in the industrials and automotive sectors. Net profit for the year increased 106% to INR 50.8 crore for the business.

    Top 15 Biggest Semiconductor Companies in the World
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    StartupTalkyPratyusha Srivastava